Guidance: production above, CapEx below
By Richard Rostad, analyst, Oil & Gas 360

EOG Resources (ticker: EOG) announced first quarter results today, showing net income of $635 million, or $1.10 per share.

EOG reported much smaller derivative losses than many E&P companies this quarter, with derivative losses of only $20.5 million. After adjusting for derivatives and other charges, EOG earned $689 million in Q1 2019, dead even with the company’s adjusted earnings in Q1 2018. After paying $128 million in dividends, EOG generated $55 million in free cash flow in Q1.

EOG produced 773.6 MBOEPD in the quarter, up 17% year-over-year and 1% sequentially. The company achieved the ideal quarter when compared to guidance, as EOG’s cr...

Legal Notice